Consumer Loans

SMART Loans (Payday Lending Alternative)

Firelands Federal Credit Union is now offering a better, smarter alternative to payday advance loans. SMART loans are short-term loans that allow you to borrow up to $1,000 for six months with a much lower interest rate than a traditional payday advance loan! In order to be eligible, you must be a Firelands Federal Credit Union member in good standing for at least three months and have your payroll directly deposited into an account at the Credit Union. Payments for these loans are due with each payroll deposit until the loan is paid in full. SMART loans are perfect when you find yourself running short on cash! Just bring in your driver’s license, proof of residency and two months worth of pay stubs (pay stubs are not necessary if you’ve had direct deposit for at least two months). Check current rates here or stop in today and speak with a friendly loan officer!

The Firelands FCU Smart Option Student Loan® by Sallie Mae®

For borrowers attending degree-granting institutions: Now you can pay for college the smart way with three great repayment options and competitive interest rates! The loan is an ideal solution to help you pay for college expenses not covered by scholarships and federal loans. To learn more or to apply, please get started here.

The Smart Option Student Loan features and benefits:

To learn more or to apply, please get started here.

Share Savings/Certificate Secured Loans

As a member of Firelands Federal Credit Union, you can use your own savings or term share certificate as collateral to borrow funds. That means you can continue to earn dividends on your savings or certificate, and pay a minimal interest rate on this secured loan. These loans require minimal credit approval criteria and the repayment terms are very flexible. This loan can also be beneficial if you are trying to establish or rebuild credit.

Signature Loans

For those members with established credit and good credit scores, we offer signature loans. These are designed to help you with small purchases like furniture, appliances, or to help out on special occasions, with no collateral required other than your good name.

Personal Line of Credit

This is the same as the signature loan mentioned above except we give you an established line that you can use at your convenience. This loan works much the same as a credit card, except you can only draw from the Personal Line of Credit by visiting a teller. You only pay finance charges on the balance you use.

We offer other types of consumer loans, including:

Give us a call for details!

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